Palatin Technologies, Inc. (NYSEAMERICAN:PTN) was the recipient of a significant increase in short interest during the month of November. As of November 30th, there was short interest totalling 5,038,244 shares, an increase of 53.4% from the November 15th total of 3,283,577 shares. Currently, 2.8% of the shares of the company are sold short. Based on an average daily trading volume, of 2,833,586 shares, the short-interest ratio is currently 1.8 days.

Palatin Technologies (NYSEAMERICAN PTN) traded down $0.02 during trading on Monday, reaching $0.85. The company’s stock had a trading volume of 1,392,385 shares, compared to its average volume of 1,956,872. Palatin Technologies has a 1-year low of $0.29 and a 1-year high of $1.05.

Palatin Technologies (NYSEAMERICAN:PTN) last released its quarterly earnings data on Monday, November 13th. The biopharmaceutical company reported $0.05 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.06 by ($0.01). The business had revenue of $26.94 million during the quarter, compared to analyst estimates of $28.00 million. During the same quarter in the previous year, the company posted ($0.08) EPS.

PTN has been the topic of a number of recent research reports. Canaccord Genuity set a $6.00 target price on Palatin Technologies and gave the company a “buy” rating in a research report on Sunday, September 10th. Zacks Investment Research upgraded Palatin Technologies from a “hold” rating to a “buy” rating and set a $0.75 target price on the stock in a research report on Thursday, October 5th. Finally, Roth Capital set a $2.00 target price on Palatin Technologies and gave the company a “buy” rating in a research report on Sunday, October 29th.

An institutional investor recently raised its position in Palatin Technologies stock. Bank of New York Mellon Corp grew its stake in Palatin Technologies, Inc. (NYSEAMERICAN:PTN) by 500.2% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 151,473 shares of the biopharmaceutical company’s stock after purchasing an additional 126,236 shares during the period. Bank of New York Mellon Corp owned about 0.08% of Palatin Technologies worth $101,000 at the end of the most recent quarter.

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Palatin Technologies Company Profile

Palatin Technologies, Inc is a biopharmaceutical company. The Company is engaged in developing targeted, receptor-specific peptide therapeutics for the treatment of diseases with significant unmet medical need and commercial potential. Its programs are based on molecules that modulate the activity of the melanocortin and natriuretic peptide receptor systems.

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